RiverPark Advisors LLC raised its holdings in Mastercard Incorporated (NYSE:MA) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,314 shares of the credit services provider’s stock after buying an additional 676 shares during the quarter. Mastercard comprises 1.5% of RiverPark Advisors LLC’s investment portfolio, making the stock its 28th largest position. RiverPark Advisors LLC’s holdings in Mastercard were worth $9,369,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of MA. OLD Mission Capital LLC bought a new stake in shares of Mastercard in the 3rd quarter worth approximately $237,000. FIL Ltd boosted its position in shares of Mastercard by 431.6% during the fourth quarter. FIL Ltd now owns 250,589 shares of the credit services provider’s stock valued at $89,444,000 after purchasing an additional 203,448 shares in the last quarter. United Bank boosted its position in shares of Mastercard by 19.3% during the fourth quarter. United Bank now owns 3,037 shares of the credit services provider’s stock valued at $1,084,000 after purchasing an additional 491 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Mastercard by 9.7% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,386,650 shares of the credit services provider’s stock valued at $494,951,000 after purchasing an additional 122,067 shares in the last quarter. Finally, Sittner & Nelson LLC bought a new stake in shares of Mastercard during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 73.87% of the company’s stock.
In other Mastercard news, major shareholder Foundation Mastercard sold 78,973 shares of the business’s stock in a transaction dated Monday, July 19th. The stock was sold at an average price of $370.34, for a total transaction of $29,246,860.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Ajay Banga sold 60,000 shares of the business’s stock in a transaction dated Wednesday, July 14th. The shares were sold at an average price of $390.34, for a total value of $23,420,400.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 249,584 shares of company stock valued at $94,566,929. 0.33% of the stock is owned by company insiders.
Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, April 29th. The credit services provider reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.19. The company had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $3.97 billion. Mastercard had a return on equity of 100.68% and a net margin of 42.38%. Mastercard’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.83 earnings per share. As a group, equities research analysts predict that Mastercard Incorporated will post 7.77 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 9th. Investors of record on Friday, July 9th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Thursday, July 8th. Mastercard’s dividend payout ratio (DPR) is presently 27.37%.
Several equities research analysts recently weighed in on the company. Daiwa Capital Markets upgraded Mastercard from a “neutral” rating to an “outperform” rating and set a $402.00 price target on the stock in a research report on Tuesday, May 18th. Morgan Stanley lifted their price target on Mastercard from $418.00 to $444.00 and gave the company an “overweight” rating in a research report on Monday, May 3rd. Barclays lifted their price target on Mastercard from $440.00 to $452.00 and gave the company an “overweight” rating in a research report on Monday, June 7th. Robert W. Baird lifted their price target on Mastercard from $454.00 to $482.00 and gave the company an “outperform” rating in a research report on Thursday, July 15th. Finally, Macquarie lifted their price target on Mastercard from $385.00 to $425.00 and gave the company an “outperform” rating in a research report on Friday, April 30th. Two research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $398.38.
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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